Singapore: S$10 Million Government Fund to Offset Costs of Patent Applications

The "Patent Application Fund", the Singapore government’s financial incentive scheme to offset the often-prohibitive costs of patent protection, ended on 30 September 2002. In its place, the Singapore Economic Development Board (EDB) has administered a revised financial assistance scheme named the "Patent Application Fund Plus" as of 1 October 2002.

The EDB has invested S$10 million in this fund. Under the revised scheme, inventors or their rightful assignees can receive funding for up to three inventions, rather than two inventions under the old scheme. Singapore citizens, permanent residents and Singapore-based small and medium-sized enterprises (SMEs) are eligible to apply for funding. The fundable components are the professional and official fees and other related charges incurred in filing patent applications. Up to S$5,000 is available to cover initial costs and up to S$25,000 more per application will be disbursed if the invention is assessed positively.

Undeniably, the costs of commencing and maintaining a patenting program are substantial and often deter individuals and SMEs from actively protecting their inventions. In order to encourage more patenting activities locally, the government has recognised the need to render financial assistance. Consequently, the "Patent Application Fund" and the new "Patent Application Fund Plus" were initiated as incentives to Singapore applicants.

Such a financial aid scheme is one of the many avenues through which the government aims to promote a patenting culture which will enhance the competitive business environment in Singapore.